BANGKOK, Aug 14 (TNA) – Three agencies have projected that Thai food exports to contract two per cent in the first half of this year but to recover 3.6 per cent in the second half of this year to reach one trillion baht in value for the whole year.
The three agencies are the National Food Institute, the Board of Trade of Thailand and the Federation of Thai Industries.
President of National Food Institute (NFI), Mrs. Anong Paijiprapapon said that Thai food production industry in the first half of 2020 contracted 8.6 per cent year-on-year owing to Covid-19.
Sugar production shrank by 38 per cent and cassava starch by 4.9 per cent, frozen shrimp by 3.9 per cent and canned pineapple by 7.9 per cent. Increases in production were seen in processed chicken, canned tuna and seasonings and instant noodle, she said.
Thai food exports slightly contracted in the first half of this year by 2 per cent, worth 505 billion baht while processed food exports increased 0.1 per cent, worth 238 billion baht.
Thai food exports are projected to expand by 3.6 per cent, worth 519 billion baht in the second half of this year.
Thai food exports were projected to value one trillion baht, up 0.8 per cent. Growth is expected in major commodities such as chicken, canned tune, ready-to-eat food, seasoning and pineapple.
Drops in value are likely to be seen for rice, sugar, cassava starch, shrimp and coconut.
From January to June, Thailand increased exports to China, the U.S. and Oceania while exports to Asean, Japan, European Union, Africa and the Middle East decreased.
The kingdom ranked 11th food exporter in the World and ranked second in Asia after China. (TNA)
